BetMGM Sportsbook offers more sports betting options than any other sportsbook. With so many options, you should really go into it with a strategy on how you’re going to cash in and cash in big. So, we’ve put together some of the best sports betting strategies that will work great at BetMGM. You might even be able to use some of these at other bookmakers as well.
Before we get into the various strategies, we need to first cover the most important thing — BetMGM’s bonus. That’s because BetMGM offers a tempting welcome bonus that's hard to ignore. Sure, many sportsbook operators offer a bonus for new customers, but BetMGM’s is a bit different.
New users can place their first bet up to $1,500, and if the bet loses, they’ll get the same amount in bonus bets. What does this mean for you? Simply put, if your initial bet doesn’t turn out as planned, you won't lose your money. BetMGM will credit your account with the same amount of money you bet.
To claim this offer, make sure to use the promo code "EWBET1" when you first sign up. This safety net not only boosts your confidence but also allows you free rein to try more adventurous bets without the initial risk.
With the safety of BetMGM covering your first bet, you’re free to try out some of these other betting strategies.
One of the more thrilling ways to bet is via the Cross Sport Parlay (CSP) feature available on BetMGM. This isn’t something every sportsbook operator allows, so it’s fairly unique to BetMGM.
This option allows you to mix bets from various sports into a single parlay with enhanced odds.
For instance, you could combine a bet on the Colorado Avalanche to make an insane comeback over the Dallas Stars in game 5 of the NHL playoffs while also betting on the Cavaliers to do the same with the Celtics in game 5 of their NBA playoff series.
You can get wild and crazy with these CSPs, but all of that to say is that you’re not limited to a single sport. You might just be an expert in several sports, but now you can put that expertise to use. The payout on a CSP can be substantially higher than if these bets were placed individually, but it’s not for everyone. Is it for you?
Remember that insane bonus we mentioned up front? You need to use that to your advantage.
BetMGM is known for its frequent promotions such as odds boosts, bonus bets, and other special offers they offer to both new users and vets on their platform. These can significantly elevate your betting value or reduce the risk involved.
For example, odds boosts may increase the potential return on a bet you were already considering. Maybe you were thinking about taking the “over” on the Knicks and Pacers game at 216.5 with the odds at -110. But then you check the odds boosts and see it’s at -105. On a $100 bet, that’s an additional $5 back in your pocket.
These odds boost, and the little promos they’re constantly offering will add up over time.
Staying updated on these offers means regularly checking the promotions tab on the BetMGM app or website. It’s a simple yet effective way to ensure you’re getting the most out of your bets.
Fading the public is a popular strategy among more contrarian bettors, but it’s not for everyone.
This involves betting against the public consensus, which is particularly useful in popular, high-profile games where public opinion is skewed.
For example, if the majority of bets are placed on the New York Rangers to win, and you suspect an upset by the underdog, the Carolina Hurricanes, betting against the Rangers could yield great value due to skewed odds.
This approach often finds its strength in situations where fan bias affects wagering more than actual performance. One area we seen recently was the Indiana Fever trying to overcome the Connecticut Sun in the WNBA. All of the hype was around the Fever with Caitlin Clark in guard, but obviously Connecticut overcame the Fever despite the fan “fever”.
Understanding the context of the game plays an important role in sports betting. If you’ve been in the industry for more than a day, then you already know that.
Situational handicapping involves considering factors such as team fatigue, recent schedules, injuries, and other situational factors that could influence the game’s outcome.
The list of what can affect a team’s performance is essentially endless, but you get the idea.
For instance, an MLB team coming off of a strenuous double header day and using up the bulk of their bullpen might not have a great game against another team that is on their home-turf and well-rested.
These nuances, often overlooked by the general betting public, can give you an edge. However, you have to really know your game before you get into these bets. Typically, if it’s your team and you follow them closely, you might have an edge over most other sports bettors.
Consistency is key in betting, and adhering to a flat betting system can help you manage your bankroll effectively.
Miller’s Strategy, named after renowned gambler Alan Miller, who has made millions in the industry, recommends betting a consistent amount—typically a small percentage of your total bankroll—on each game.
This Strategy focuses on events with odds close to even, promoting a disciplined approach to betting without the highs and lows of more volatile bets.
This small percentage generally varies from sports bettor to sports bettor, so you’ll have to figure out what your amount is. We typically recommend 3-5% of your total bankroll for your unit size (typical flat-bet amount). If your bankroll is $1000, then maybe your bet is $30/bet. You might be inclined to go higher if you feel strongly about the bet, but if you’re sticking to this Strategy, then you need to stick to $30.
BetMGM Sportsbook offers countless opportunities for both newbies and experienced bettors to maximize their potential winnings through strategic betting options.
From taking full advantage of a generous welcome bonus to employing complex betting strategies like cross-sport parlays and situational handicapping, the keys to becoming a successful sports bettor lie in disciplined betting, continuous learning, and staying informed on the latest promotions and game contexts.
Remember that all of these strategies are just a starting point. You might want to modify them how you see fit and what fits your betting profile. Don’t just make a CSP on an NBA playoff game if you’re not too familiar with the teams. Stick to what you know and watch your bankroll grow.